The former "ER" star listed roughly $11,600 in expenses with earnings of $7,500 each month. Phifer, who has starred in "8 Mile" with Eminem and "Soul Food" with Vanessa Williams, owes $1.2 million in back taxes, $50,000 in attorney's fees and $4,500 in back child support, reported TMZ.

Phifer married Reshelet Barnes last year at the Montage Hotel in Beverly Hills before 100 family members and friends. It was Phifer's second marriage. He has two sons, Omikaye, with ex-wife Malinda Williams and Mekhi, Jr. with former girlfriend Oni Souratha.

Phifer, 39, started a film promotion company, Third Reel Films, in 2011, People magazine reported.He appeared in seven episodes of the Showtime series "House of Lies" this year and costarred in the television movie "A Day Late and a Dollar Short," with Whoopi Goldberg and Ving Rhames in April.

He also appeared in the movie "The Suspect" last year. Phifer has also had roles in "This Christmas," "Honey," "Brian's Song" and "I Still Know What You Did Last Summer."

Phifer is certainly not the only Hollywood star to file for bankruptcy this year. Last month Teri Polo, who starred in the "Meet the Parents" franchise, went to court for relief from her debts, according to TMZ.

In her Chapter 11 court filing, Polo claims that she owes $772,000 in back taxes, $36,000 in credit card debt and another $30,000 a landlord is charging her over the condition of an apartment.